2. Prepare the issuer's application report for this bond issue.
3. Convene a general meeting of shareholders, form a resolution of the board of directors, and formulate the articles of association for bond issuance.
4. Issue a feasibility study report on issuing corporate bonds. The report shall include the use of bond funds, the description of issuance risks and the analysis of solvency.
5. Arrange the guarantee. The issuer shall do a good job in guaranteeing the issuance of corporate bonds, employ other independent Economic legal for guarantee in accordance with the relevant provisions of the Guarantee Law, and issue a written guarantee in the prescribed format.
6. Arrange audit institutions. The financial statements (including balance sheet, profit and profit distribution statement and cash flow statement) provided by the issuer and its guarantor in the last three years have been audited by a professionally qualified accounting firm.
7. Arrange credit rating. The issuer employs a qualified credit rating agency to credit rate the corporate bonds it issues.
8. Arrange lawyer certification. The application materials for issuing corporate bonds shall be examined by a qualified law firm and issued with legal certificates.
9. Form a marketing team. Corporate bonds are underwritten by securities institutions with underwriting qualifications, and enterprises may not sell corporate bonds on their own. The lead underwriter is selected by the enterprise. If it is necessary to organize an underwriting syndicate, the lead underwriter shall organize an underwriting syndicate. Underwriters may underwrite corporate bonds by consignment, balance underwriting or full underwriting, and the underwriting method shall be determined by the issuer and the lead underwriter through consultation.
10, other. The lead underwriter assists in preparing bond application materials and submits them to the provincial development and reform commission, which forwards them to the national development and reform commission.
Extended data
According to different standards, corporate bonds can be divided into many types. The most common classifications are as follows:
(1) Corporate bonds are divided into short-term corporate bonds, medium-term corporate bonds and long-term corporate bonds according to the term. According to the term classification of corporate bonds in China, the term of short-term corporate bonds is within 1 year, the term of medium-term corporate bonds is within 1 year and less than 5 years, and the term of long-term corporate bonds is more than 5 years.
(2) According to whether it is registered or not, corporate bonds can be divided into registered bonds and registered bonds. If the name of the bondholder is registered on the corporate bond, the investor must sign the bond with the seal or other valid identification when receiving the interest, and register with the issuing company at the same time, which is called registered bonds, and vice versa.
(3) According to whether the bonds are secured or not, corporate bonds can be divided into credit bonds and secured bonds. Credit bonds refer to unsecured bonds issued only with the credit of fundraisers. Credit bonds are only applicable to bond issuers with high credit ratings. Guaranteed bonds refer to bonds issued by means of mortgage, pledge and guarantee.
Among them, mortgage bonds refer to bonds issued with real estate as collateral, pledge bonds refer to bonds issued with its securities as collateral, and guarantee bonds refer to bonds guaranteed by a third party to repay the principal and interest.
(4) According to whether bonds can be redeemed in advance, corporate bonds can be divided into bonds that can be redeemed in advance and bonds that cannot be redeemed in advance. If an enterprise has the right to buy back all or part of the bonds regularly or at any time before their maturity, such bonds are called callable corporate bonds, and vice versa.
Resources Baidu Encyclopedia-Corporate Bonds
Refer to Baidu Encyclopedia-bond issuance steps
Refer to Baidu Encyclopedia-bond issuance procedures